Abstract
In a competitive world of business, procurement decisions made by a business organization play a vital role in its success. Flexibility is one of the key aspects of overall success of a business organization and thus procurement of items in an organization is considered as an important functional area of business. Hence, modeling a flexible procurement problem can ensure a great success to a business organization. Therefore, this chapter addresses a flexible procurement problem by integrating supplier selection, lot-sizing, and carrier selection by considering dynamic demand, cost fluctuations and varying capacities of suppliers and carriers. The problem is modeled as a mixed integer linear program (MILP). Numerical illustrations are provided to demonstrate the proposed MILP and are solved for randomly generated data. LINGO 10 is used to solve the proposed MILP of flexible procurement problem.
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Kaur, H., Singh, S. (2016). Modeling Flexible Procurement Problem. In: Sushil, ., Bhal, K., Singh, S. (eds) Managing Flexibility. Flexible Systems Management. Springer, New Delhi. https://doi.org/10.1007/978-81-322-2380-1_12
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DOI: https://doi.org/10.1007/978-81-322-2380-1_12
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